Chiliz (CHZ) is a native digital currency for sports and entertainment of the Chiliz platform. The platform was developed by the eponymous FinTech provider from Malta in 2017.
Its founder and CEO is Alexandre Dreyfus. He developed an interactive travel guide, Webcity, and online poker projects, Winamax and Chilipoker. When establishing Chiliz, Dreyfus wanted to make the fan token the ultimate tool for fan engagement and a strong revenue generator for the sports industry.
Socios, a sports entertainment platform based on blockchain, is operated on Chiliz blockchain. Socios allows its users to govern their favorite sports brands through fan tokens. Many sports clubs and associations provide fan tokens to their fans in order to build a strong connection with them.
Fan tokens allow fans to participate and influence club-related decisions by voting via surveys and polls. However, a club determines an extension of fans' voting rights. Token holders can meet with club players and receive merchandise items. Also, they can donate to their favorite teams and much more.
Chiliz token was launched in October 2018 on the Ethereum mainnet. The currency's supply is capped at 8.8 billion. There was no public sale aside from the tokens that were available through exchanges. Also, CHZ was distributed among early contributors. 15% went to strategic acquisitions, 5% to the team, 7% to seed investors, 3% to the advisory board, 15% to marketing, 20% to userbase reserve and 34.5% to the token sale.
If you buy CHZ, you will receive access to numerous fan tokens and gain a stake in their club. However, the popularity of fan tokens is questionable as the industry is young and hasn't proved its reliability. Therefore, you can trade CHZ to USD. CHZ/USD trading is available on LiteFinance via a contract-for-difference instrument. CFD trading allows you to open positions on the CHZ/US dollar pair regardless of its direction.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
